Funding · Climate, Energy & Sustainability
Net Zero raises INR 4.15 crore seed funding for carbon platform
By Startup Enthusiast ·
- Date
- Company
- Net Zero Initiative Private Limited
- What it does
- Carbon credit standard and registry
- Kind
- Funding
- Amount
- INR 4.15 crore
- Stage
- seed
- Based in
- Bengaluru
- Founded
- 2024
What they do
Net Zero builds a digital system for tracking and verifying carbon credits in India
What happened
The company raised INR 4.15 crore in equity and grants from investors led by Campus Angels Network
Why it matters
It aims to issue its first carbon credits this quarter using new technology methods
The details
- RenewCred has closed a seed funding round for its carbon credit platform.
- The company raised INR 4.15 crore in equity and grants from investors.
- Campus Angels Network led the investment round for the Bengaluru-based startup.
- Other participants included Kairos Early Opportunity Fund, build3 Startup Studio, and VentureStudio Ahmedabad University.
- Investors also included Ideashacks Investor Network, ACT Capital Foundation, and the Social Innovation Lab by CITI Bank-IIT Kanpur.
- Angel investors participated alongside institutional backers in this financing deal.
- The startup plans to issue its first carbon credits within this quarter.
The bigger picture
- RenewCred positions itself as India’s first technology-native carbon credit standard and registry.
- The company focuses on the voluntary carbon market which is growing globally.
- Its approach uses non-nature-based methodologies like biochar and renewable energy.
- The firm claims to reduce verification timelines by 75% through its tech stack.
- Transaction costs for carbon credits are reduced by more than 50% according to the facts.
About the business
- RenewCred operates under the legal name Net Zero Initiative Private Limited.
- The headquarters is located in Bengaluru, India.
- The company provides a proprietary digital MRV (Measurement, Reporting, and Verification) system called Net Zero.
- Its tech stack utilizes IoT, machine learning, and blockchain for data integrity.
- Methodologies include biochar, EV fleets, renewable energy, methane reduction, clean fuels, and industrial decarbonisation.
- The emission removal target is 2.0 gigatons GHG over 14 years.
- The platform aims to onboard developers and buyers for carbon credits.
- The focus is on expanding the methodology library and scaling the Net Zero platform.
- The science network will grow to support verification processes in the coming months.
What happens next
- Issue the first carbon credits this quarter.
- Expand the methodology library over the next 9-12 months.
- Scale the Net Zero platform for broader adoption.
- Grow the science network to support verification.
- Onboard more developers and buyers into the ecosystem.
The deal
- Type
- Seed
Investors
- Campus Angels Network (lead)
- Kairos Early Opportunity Fund (co-lead)
- build3 Startup Studio (participated)
- VentureStudio Ahmedabad University (participated)
- Ideashacks Investor Network (participated)
- ACT Capital Foundation (participated)
- Social Innovation Lab by CITI Bank-IIT Kanpur (participated)
- Angel Investors (participated)
Founders
- Abhimanyu Rathi, Founder & CEO
- Yogendra Panchal, Cofounder & VP of Engineering
- Shilpi Saboo, VP Operations & Partnerships
- Kaushik Gupta, Principal Engineer
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